It is my understanding that the new owner will have the house at the cost basis of my purchase price, for calculating capital gains taxes or depreciation.For gift tax purposes for you - FMV.For capital gain tax purposes for the recipient - your original basis/purchase price 

To leverage the equity for financing my next deal, a second mortgage seems like a more cost-effective option.

I am particularly interested in:Understanding the fundamentals of wholesalingNavigating Texas-specific real estate laws and regulationsBuilding a strong network of cash buyers and motivated sellersLearning effective marketing strategiesAnalyzing and evaluating dealsIf anyone is willing to share their experiences, tips, or resources, I would greatly appreciate it.

Again more cost for you.  

As a result, while the US market is stuck in the lock-in effect, the Canadian market is kinda booming so it makes more sense for Americans to consider Canada nowadays, except for the fact that Canada has on average one of the if not the most unaffordable real estate in the world.Hope this helps.

Sometimes, buying an existing property can be more cost-effective and less time-consuming and maybe require slightly less permits, etc. 

During this renovation period would you, as the lender, want an Actual Cash Value or Replacement Cost policy in place?

Here is a comprehensive guide to help out-of-town parents navigate the process effectively.1.

Can you provide guidance on how to get started and some effective strategies?

You're also correct that 4 star is officially good but, in reality, it's one of the lowest ratings that's being given and it has a disproportionate effect on the property's rating when we list a new property and so we haven't had that many guests and reviews yet.